01

Company presentation, Non-disclosure Agreement (NDA)

The Seller or the intermediary contacts potential buyers and provides them the company presentation of the Target

The Buyer employs Eurasian Consulting ("EC") as advisor. EC assists in entering the sale process.

Potential buyers sign NDA with the Target.

02

Process Letter, Info Memo

The Buyer receives Info Memo

The project proceeds forward according to the requirements set by the Seller in the Process Letter

03

Non-binding Offer

EC and the Buyer prepare and submit Non-binding Offer in accordance with the sale process

The Seller selects some potential buyers to enter the next step

EC will organize the two sides to exchange visits if needed

04

Database, Q&A Session, Management Presentation

EC organizes Due Diligence regarding finance, law, environment and tax etc.

Q&A Session

EC summarizes the results of Due Diligence

05

Binding Offer

EC completes the company valuation of the Target

After being confirmed by the Buyer, EC drafts and submits Binding Offer

06

Negotiation, Preparation of Contract

EC organizes negotiation between the two sides

EC assists the Buyer and its legal adviser in preparing and completing M&A contract and other related documents

The Seller and the Buyer sign the contract

07

Approval of or Filing to Supervision Departments

Submitting application for approval of or filing to Chinese supervision departments (NDRC, MOC, SAFE and SASAC)

Submitting application for approval of Antitrust Division in Germany

08

Closing of Project

Closing after being approved

09

Restructuring, Synergy & Integration